JUDGMENT

[OP(C) Nos.1034/2024 and 926/2024]

(Dated this the 2^nd day of April, 2025 )

O.P.(C.) No.1034 of 2024 is filed challenging Ext.P9 order in C.M.A. (Arb) No.94/2023 and O.P.(C) No.926 of 2024 is filed challenging Ext.P8 order in C.M.A.(Arb) No.95/2023 of the Principal District Judge, Kottayam. The petitioner in both the cases is a Non-Banking Financial Public Limited Company engaged in various financial activities, including hire-purchase transactions. Since, parties are one and the same in both the petitions, heard together and a common judgment is passed.

2. The facts of cases are as follows:

OP© No.926 of 2024 : The respondents sought a loan from the petitioner Company to purchase a 2018 VE CV Eicher vehicle, bearing registration number KL 05/AS 270. The Company granted a loan of ₹16,60,000 to the first respondent, under a loan agreement dated 17/01/2022. The 2^nd respondent acted as guarantor, vide a separate agreement. Subsequently, the vehicle was hypothecated to the Company, and a charge was registered in its favour. Further, the respondents defaulted the loan repayments and despite issuing notice, they failed to settle the dues. Thus, as per clause 22 of Ext. P1 agreement,